By Yinka Kolawole
Nigeria’s merchandise trade surplus surged by 66.8 per cent quarter-on-quarter to N12.59 trillion in the second quarter of 2026, from N7.55 trillion recorded in Q1, as a sharp rise in exports widened the gap between the country’s earnings from exports and its import bill.
In its foreign trade statistics report released yesterday, the National Bureau of Statistics, NBS, noted that Nigeria’s total merchandise trade stood at N41.44 trillion in Q2’26, comprising exports of N27.02 trillion and imports of N14.42 trillion.
The Q2’26 surplus was therefore N5.04 trillion higher than the N7.55 trillion recorded in Q1’26, providing a significant boost to Nigeria’s external trade position.
The development is economically significant as a larger trade surplus can strengthen foreign exchange liquidity, improve the country’s external position and enhance its capacity to finance imports. It could also provide some support for naira stability if the stronger export earnings translate into increased foreign exchange inflows.
